This is not surprising, but since the Wall Street Journal keeps releasing stupid stupid STUPID reports on Apple developing a cheapo iPhone year after year, it's good to have Phil Schiller punching them in the groin with a big hell-no:
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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/JYUW5Pj1khU/phil-schiller-there-will-be-no-cheapo-iphone-stupid
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